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February 07, 2024US TRADE BALANCE, DECEMBER AND ANNUAL 2023 Month over month (December 2023 vs November 2023)
The United States goods and services deficit narrowed by $0.3 billion to $62.2 billion. The goods deficit narrowed by $690 million to $89.1 billion and the services surplus widened by $372 million to $26.9 billion.
Total exports increased $3.9 billion to $258.2 billion. Goods exports increased $3.1 billion to $171.2 billion and services exports increased $837 million to $87.0 billion.
Total imports increased $4.2 billion to $320.4 billion. Goods imports increased $3.8 million to $260.3 billion and services imports increased $465 million to $60.1 billion.
Year over year (December 2023 vs December 2022)
The US trade deficit narrowed by $9.2 billion. The goods deficit narrowed by $2.8 billion and the services surplus widened by $6.4 billion.
Total exports increased by $7.9 billion (+3.2%). Goods exports increased $1.6 billion (+0.9%) and services exports increased $6.3 billion (+7.8%).
Total imports decreased $1.3 billion (-0.4%). Goods imports decreased $1.2 billion (-0.5%) and services imports decreased $32 million (-0.1%).
Annual (2023 vs 2022)
The US trade deficit narrowed by $177.8 billion to $773.4 billion. The goods deficit narrowed by $121.3 billion to $1,061.7 billion. The services surplus widened by $56.4 billion to $288.2 billion.
Total exports increased by $35.0 billion (+1.2%) to $3,053.5 billion. Goods exports decreased $39.2 billion (-1.9%) to $2,050.7 billion. Services exports increased $74.2 billion (+8.0%) to $1,002.8 billion.
Total imports decreased $142.7 billion (-3.6%) to $3,826.9 billion. Goods imports decreased $160.5 billion (-4.9%) to $3,112.4 billion. Services imports increased $17.8 billion (+2.6%) to $714.5 billion.
Source: U.S. Census Bureau and U.S. Bureau of Economic Analysis, retrieved Federal Reserve Bank of St. Louis using a FRED API.
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